This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.

Latest Stories

IRS Announces Program to Share Employment Tax Exam Results with States

On
November 6, 2007, the IRS and 29 state workforce agencies
jointly announced that they have entered into agreements to
share with each other the results of employment tax
examinations. They hope that creating a uniform method for
exchanging data will help them increase businesses’
compliance with state and federal employment tax
requirements by reducing fraudulent filings, uncovering
employment tax avoidance schemes, and ensuring proper worker
classification.

Under the agreement, in addition to
sharing information, the states and the IRS say they will
collaborate on outreach and education to help businesses
understand their employment tax responsibilities.

The
states that have signed agreements with the Service are
Arizona, Arkansas, California, Colorado, Connecticut,
Hawaii, Idaho, Kentucky, Louisiana, Maine, Massachusetts,
Michigan, Minnesota, Nebraska, New Hampshire, New Jersey,
New York, North Dakota, Ohio, Oklahoma, Rhode Island, South
Carolina, South Dakota, Texas, Utah, Vermont, Virginia,
Washington, and Wisconsin.

Among CPA tax preparers, tax return preparation software generates often extensive and ardent discussion. To get through the rigors of tax season, they depend on their tax preparation software. Here’s how they rate the leading professional products.

The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.

Don’t get lost in the fog of legislative changes, developing tax issues, and newly evolving tax planning strategies. Tax Section membership will help you stay up to date and make your practice more efficient.